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Rite Aid Corp, traded as RADCQ, is a leading drugstore chain headquartered in Liverpool, New York, United States. With a focus on health, wellness, and pharmacy services, Rite Aid serves millions of customers across the country. The company's core business includes retail pharmacy, prescription fulfillment, over-the-counter medications, health products, and wellness services. Rite Aid has been making significant strides in improving customer experience, expanding product offerings, and enhancing its digital presence. With a strong financial standing and strategic partnerships, Rite Aid continues to grow and innovate in the competitive healthcare industry.
Rite Aid (RADCQ) has announced Matt Schroeder as its new Chief Executive Officer following the company's emergence from Chapter 11 bankruptcy. Schroeder, who has been with Rite Aid since 2000 and most recently served as CFO, replaces Jeffrey S. Stein, who has stepped down from his roles as CEO and Chief Restructuring Officer.
Bruce Bodaken, Chair of Rite Aid's Board during the Chapter 11 process, praised Schroeder's leadership and deep understanding of the business. Schroeder expressed his commitment to serving customers and communities, focusing on Rite Aid's potential as a transformed company. Stein, the outgoing CEO, expressed pride in the company's accomplishments and confidence in its future success under Schroeder's leadership.
Rite Aid has successfully completed its financial restructuring and emerged from Chapter 11 bankruptcy. The company has eliminated approximately $2.0 billion of total debt and received $2.5 billion in exit financing. Rite Aid will now operate as a private company, with ownership transitioning to certain creditors and all existing common shares cancelled.
The restructuring has resulted in a rightsized store footprint, a more efficient operating model, and additional financial resources. Matt Schroeder, former CFO, has been appointed as the new Chief Executive Officer, succeeding Jeffrey S. Stein, who led the Chapter 11 process.
Rite Aid (OTC: RADCQ) and Bartell Drugs have announced the availability of appointments for the updated COVID-19 (2024-2025) vaccine. Eligible customers can now schedule appointments at Riteaid.com and Bartelldrugs.com. The vaccine is recommended for individuals six months and older, regardless of previous COVID-19 vaccination history.
Chief Pharmacy Officer Karen Staniforth emphasized the importance of convenient access to vaccinations in safeguarding community health. Rite Aid pharmacists are trained to immunize customers ages three and older. Both COVID-19 and flu vaccinations can be administered during the same appointment. Walk-ins are also available, subject to demand.
Rite Aid (OTC: RADCQ) has announced the availability of flu and RSV vaccine appointments at all store locations, including Bartell Drugs in the Pacific Northwest. Customers can schedule appointments immediately through Rite Aid's online scheduler. The company is offering flu vaccines protecting against expected strains and a supply of nasal spray flu vaccine. Customers receiving flu shots until September 30 will get a $5 off $25 in-store purchase coupon (excluding New York and New Jersey stores).
Rite Aid also offers COVID-19 and other routine vaccinations. The new 2024-2025 CDC-recommended COVID-19 vaccine will be available late this summer. Rite Aid pharmacists can provide guidance on appropriate vaccines and timing. Appointments can be scheduled online, and walk-ins are accepted.
Rite Aid (OTC: RADCQ) has reported a security incident involving unauthorized access to certain business systems. On June 6, 2024, an unknown third party impersonated an employee and gained access to customer data. The compromised information includes names, addresses, dates of birth, and government-issued ID numbers for purchases made between June 6, 2017, and July 30, 2018.
Rite Aid detected the breach within 12 hours and immediately launched an investigation. The company has confirmed that no social security numbers, financial information, or patient data were affected. Rite Aid is implementing additional security measures and has set up a dedicated assistance line for affected consumers, which will remain open until October 15, 2024.
Rite Aid (OTC: RADCQ) has expanded its partnership with Instacart (NASDAQ: CART) to allow the use of Electronic Benefits Transfer (EBT) cards for the Supplemental Nutrition Assistance Program (SNAP) as an online payment option. This service is now available at over 1,400 Rite Aid and Bartell Drugs locations across the U.S. The move aims to provide greater access to essential items for SNAP beneficiaries, with same-day delivery options available. Rite Aid's Chief Marketing Officer, Jeanniey Walden, emphasized the importance of offering flexible and convenient shopping experiences for all customers.
Rite Aid and Bartell Drugs are hosting monthly Family Immunization Day events at select locations from May to August. The events offer routine vaccinations for customers and their families to protect against diseases like shingles, tetanus, HPV, and COVID-19. The pharmacies aim to provide convenient access to essential immunizations for all ages.
Rite Aid has expanded its partnership with Uber Eats to include alcohol delivery in eight U.S. markets, offering customers a wide selection of alcohol brands for quick delivery to their doorsteps. This collaboration aims to meet the evolving needs of customers by providing a seamless digital shopping experience.
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